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JPN225: Move down the high position
2023-04-26
820
Fundamental analysis:
On April 25 (Tuesday), the Nikkei 225 Index closed up 45.98 points, or 0.16%, to 28639.50 points. Kazuo Ueda, Governor of the Bank of Japan: Inflation in Japan is rising due to cost drivers. There is a huge lag in the effect of monetary policy. Tightening policy now would further weaken inflation. Tightening monetary policy now could lead to serious problems in the future. Will weigh the risk of weak inflation, continue to ease monetary policy.
The Nikkei JPN225——4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics are oscillating downward, and the market’s short-term sentiment is emerging. In the short term, it will continue to move downward. The MACD indicator is hovering around the 0 axis, and the RSI indicator is below the 50 balance line.
Resistance level: 28522 28603
Support level: 28327 28254
Trading strategy: bearish below 28451, target 28327 28254
Alternative strategy: call above 28451, target 28522 28603
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